Malaysia enjoys high economic growth in Q1
Malaysia’s economic growth in the first quarter of 2017 reached 5.6 percent, higher than the 4.1-percent rise in the same time last year and the highest rate in the recent two years, according to Bank Negara Malaysia (BNM).
Illustrative image (Source: AFP)
The result was higher than Bloomberg’s earlier forecast of 4.8 percent, marking the third quarter of growth at fastest pace of the third largest Southeast Asian economy since 2015.
The bank also predicted that the growth will remain stable throughout this year as the global economy is recovering and the domestic demand is still high.
The country’s export is also forecast to be benefited from the world economic recovery.
Experts held that Malaysia will enjoy growth of 4.3-4.8 percent this year. However, in March 2017, the BNM warned of risks due to the increase of protectism.
Last year, Malaysia recorded an economic growth of 4.3 percent in comparison to 5 percent in 2015 and 6 percent in 2014 as the slumped oil price and weak foreign demand.-VNA
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